Japanese automaker Mitsubishi Motors has announced that it will invest up to 200 million euros (USD 214 million) in the new electric vehicle unit of French carmaker Renault. The Renault EV unit, named Ampere, will collaborate with Mitsubishi on supplying an EV on an OEM (original equipment manufacturer) basis in the European market. Nissan has already committed to investing up to 600 million euros (USD 640.98 million) in the unit. The investment from Mitsubishi, along with Nissan’s strategic involvement, will contribute to the growth and success of the Ampere unit. This investment in Renault’s EV unit will allow Mitsubishi to tap into new opportunities and strengthen its position in the growing electric vehicle market.

Source: Economic Times October 24, 2023 09:56 UTC